Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Coinbase stock lost over 75% value

google.com

Post reply on HN
Print view View original

331–340 of 466 posts

Re: Coinbase stock lost over 75% value

#331

Post by roflyear »

zmmmmm wrote: post #129
hn_throwaway_99 wrote: post #25

Earlier quoted context omitted.

Recent post is good reading: https://news.ycombinator.com/item?id=31287464

Seems like the elephant in the room across the board in this market, whether you're talking about Netflix, Coinbase or anything else, is that we haven't seen inflation out of control for 30+ years and now here it is. An entire generation are now adults or even into middle age who never experienced it before. Most especially, never experienced how difficult it can be to control because it is such a self-reinforcing ph…

Inflation seems to be cooling already. Well find out this week I guess.

Re: Coinbase stock lost over 75% value

#332

Post by ge96 »

roflyear wrote: post #329
ge96 wrote: post #205

Earlier quoted context omitted.

Yeah don't want to say "addiction" like "buy the dip" (as it continually went down) I thought I was smart turning credit into cash but I also was losing money through fees. Anyway after messing around with my own trading bots (at loss not using smart algos or anything) I'm not sure if it was worth it... fun project I guess/code practice. At least for that I was just messing around with small amounts eg. oh yeah I'm c…

Best way to grow wealth as an individual in your position is to maximize your income any way you can. You won't get rich investing $100 here and there, likelihood that you'll make good money gambling is also extremely low. In that spirit, coding practice is probably a good thing and was probably worth the money spent.

Oh yeah I agree with that. Some job hop boom increase. I just gotta not burn money next time. I also give away money to my family but I generally don't feel too bad about it (they're in 3rd world country, I'm also fighting that mine mentality/make more). not a virtue signal I wish I was less nice

Re: Coinbase stock lost over 75% value

#333

Post by nverno »

AceyMan wrote: post #320
kortilla wrote: post #282

Earlier quoted context omitted.

Opposing view. Cloudflare doesn’t own anything significant in the form of data centers. Having small rented footprints at IXPs across the globe is not an asset, it’s just a cost. I’m not downplaying the difficulty of getting it setup but there is no intrinsic value in having it if demand for their product collapses. > Developer sentiment towards Cloudflare is comparable to Apple fanboys of the previous decade This is…

Capitalism is just a bad ecology. When whole species get torn down in one solar year bc some other species began to adopt a winning adaptation, that seems prone to overshooting (excessive curve fitting to the first derivative), with odd/suboptimal outcomes as no surprise.

without natural competition this would be a barren planet

Re: Coinbase stock lost over 75% value

#334

Post by bb88 »

devoutsalsa wrote: post #248
ike0790 wrote: post #55

i don't see why anyone would want to buy coinbase stock. it's extremely correlated to the broader crypto market with less upside. In a bull market, you could buy bitcoin or maybe be a bit more risky and buy some of the higher tier alt-coins and it would probably give you a 1.00 correlation in bull and bear cycles, but during the bull cycles the coins would skyrocket because they are tied to any major fundamental metr…

> i don't see why anyone would want to buy coinbase stock. Because their growth trajectory is insane. They are making a ridiculous amount of money & will be around for a long time. The real question is how MUCH should you pay for the stock? It's worth something, but I haven't tried to value it & I have no idea what it's worth. More than zero, less than infinity.

> but I haven't tried to value it & I have no idea what it's worth. More than zero, less than infinity.

Thankfully a lot of people do know how to price the value of a stock. A good number to target is a P/E ratio of 30 for a tech stock in growth mode.

Tomorrow COIN releases their earnings report. EPS is expected to be 0.17% of the share price. So I would expect the blood bath to continue on COIN stock. If I had money available, I would buy put options tomorrow on COIN.

Re: Coinbase stock lost over 75% value

#335

Post by mypalmike »

tomjakubowski wrote: post #171
dheera wrote: post #151

Earlier quoted context omitted.

It's quite entertaining that when electronics and clothes go on sale people go buy buy buy, but when stocks go on sale people sell like crazy. People are weird.

Every one of those stock sales has a buyer too.

There's water on both sides of a wave, but the wave is moving in one direction.

Re: Coinbase stock lost over 75% value

#336

Post by jjfoooo6 »

toomuchtodo wrote: post #153
gmays wrote: post #29

Earlier quoted context omitted.

Same. I've also bought Affirm, Shopify, Netflix, Peloton and Roblox in addition to Coinbase since they've all dropped ~70-90% in the last 6 months. I agree they were overvalued, but we seem to be in overreaction territory now. Even if we haven't seen the bottom yet, I think we'll see a lot of upside in these over the next 2-5 years.

> Affirm A credit firm whose customer base is primarily folks who have to finance their small ticket item purchases in order to afford them is going to have a tough time in a rising interest rate environment. Their margins will compress as their cost of capital rises, and their default rate will rise as their borrowers slowly approach insolvency in a recessionary environment. I would be cautious about investing in an…

> borrowers slowly approach insolvency

These are 4 week loans, exposure to any given customer is small. And in a recession demand for these loans will increase.

Re: Coinbase stock lost over 75% value

#337

Post by riffraff »

vkou wrote: post #289
Johnny555 wrote: post #163

Earlier quoted context omitted.

I'm not sure they care too much how much their bikes earn on resale as long as they get new owners, even if people give them away for free they earn money when those new Peloton owners subscribe at $40/month.

Wait, why would anyone pay $40/month to use an exercise bike they already bought? Am I stupid? Or is the world stupid?

They have training programs or some such, you pay them like you'd pay a gym subscription.

It seems strange to me, but people do this with random online fitness classes, so it's not unheard of.

Re: Coinbase stock lost over 75% value

#338

Post by bb88 »

hristov wrote: post #189
wallawe wrote: post #4

I'm a buyer at this point. We'll see how earnings turn out tomorrow, but no matter how bad the macro environment, I think $COIN at 7 P/E is a good buy long-term.

That 7 P/E is not real. I took a quick look at yahoo finance and they showed a negative 740 Million tax provision in Q2 of last year and negative 135 Million in Q3 of last year. A negative tax provision means they actually showed profit from taxes. The US government is not in the habit of giving companies hundreds of millions of dollars (almost a billion) in negative taxes so this is likely something not reflective o…

If I had $1M I would buy put options on COIN tomorrow. I think it's gonna be a blood bath on their stock on wednesday.

Also this is the chart you've mentioned about the negative tax provision.

https://finance.yahoo.com/quote/COIN/financials?p=COIN

Click on the quarterly link to see the -700M tax provision.

Re: Coinbase stock lost over 75% value

#339

Post by riffraff »

antoniuschan99 wrote: post #69
TuringNYC wrote: post #51

Earlier quoted context omitted.

Catchy phrase, but what is actually wrong with dollar cost averaging through a downturn? It seems to be the only effective way to invest for the long term.

Yea would like to know any cons in this strategy. I’m dca’ing a portion of my paycheck every month. In Canada we have tfsa’s which allow for a certain contribution per year that is tax free if you get gains. For the last few months my monthly contribution gets swallowed up by the losses and the balance hasn’t moved lol

There's a difference if you DCA a broad index and a single thing.

The broad index will, most likely, be positively skewed and still be around in 20 years. DCA makes a lot of sense.

The single stock may just go bankrupt, or become smaller and never recover (think Kodak or Nokia). DCA does not make as much sense.

Re: Coinbase stock lost over 75% value

#340

Post by jjfoooo6 »

ike0790 wrote: post #55

i don't see why anyone would want to buy coinbase stock. it's extremely correlated to the broader crypto market with less upside. In a bull market, you could buy bitcoin or maybe be a bit more risky and buy some of the higher tier alt-coins and it would probably give you a 1.00 correlation in bull and bear cycles, but during the bull cycles the coins would skyrocket because they are tied to any major fundamental metr…

Coinbase is in just a weird no man's land. If your bull case for crypto is replacing the US dollar as the world's dominant currency, why wouldn't some exchange in a regulation-free tax haven come to dominate, rather than a US corp?
Post reply on HN